Contact Us

 

Omni Financial Ltd is authorised by the Financial Conduct Authority.

 

Omni Financial Limited is Registered in England and Wales under reference 05501958. Registered Office: 1 Townsend Road, Harpenden, Hertfordshire. AL5 4BQ.

 

Trading Address: 

 

Omni Financial Ltd

Unit D2, The Courtyard

Alban Park

St Albans

Hertfordshire

AL4 0LA

 

Tel:  01727 223 251

Fax: 01727 853 811

E:     guy.swinnerton@omni-financial.co.uk

 

The information contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK. 

By clicking on this link you are now departing from the regulated site of Omni Financial Ltd.  Omni Financial Ltd cannot be responsible for any content created and published solely by a third party outside our regulated site. 

Copyright Omni Financial 2019

 

Privacy Policy

 

Site designed by Created by White and managed by Barker Online Marketing

CII

Omni Financial Ltd

If you require information about the Financial Ombudsman Service you can contact them directly:

0800 0234567
www.financial-ombudsman.org.uk

Omni Financial Blog

Featured Posts

When Can I Retire?

October 12, 2015

 

“How much do I need for my retirement” is arguably one of the most serious questions facing a working-age adult.  The answer ultimately depends on two questions.  When do you want to retire and what kind of retirement do you want to have? 

 

Planning Your Retirement 

If you want to retire at 55 and spend the rest of your life cruising the world on your private yacht, you're going to need a whole lot more money than if you want to retire at 75, downsize your house and spend the rest of your life writing, painting and gardening. 

 

Therefore step one in your retirement planning is to think realistically about how you want to spend your later years.  The more specific you can be about your plans, the better you'll be able to budget for them. This might also be a good time to think about the realities of growing older.  

For example you might need home help or short-term care or even longer-term care in your final years.  Do you have a plan to finance this?  Would insurance be helpful?  Once you have at least some sort of realistic ballpark figure it's time to see what you need to do to reach it. 

 

What Do You Already Have In Terms Of Retirement Savings?

Younger people just starting out in the world of work will have had less time to save for retirement.  On the other hand, they have more time in which to prepare for their later years.  Because of this, it may be tempting for younger people to think “I'll start saving for my pension later”.  

 

The risk in this thought is that “later” will be pushed further and further back.  If you find that you are getting closer to retirement age but have still not started saving for retirement, then late is still better than never. You may have to work to make up for the savings time lost in your younger years, but this is still better than arriving at retirement age with no preparation at all. 

If you have already started saving for retirement, congratulations.  Now is a good time to double-check if you are saving enough for your plans.

 

What Happens If You're Saving Too Little For Your Dream Retirement?

You have various options open to you in this situation.

 

Option 1 is to rethink your retirement plans.  There may be ways for you to achieve the points which really matter to you, while scaling back on some of the optional extras.

 

Option 2 is to work for longer and/or phase in retirement.  How feasible this is depends on various factors, in particular your health and your skills.  Even if you are in a physically-demanding occupation, you may still be able to find ways to monetise your professional skills. 

For example a physical trainer may be qualified in nutrition and able to build a business around that skill.  A gardener or tradesperson may still be able to take on small jobs and/or to teach.

 

Option 3 is to start saving more now.  If your current lifestyle does not make this possible, then you need to decide what changes, if any, you are able and willing to make to improve your retirement finances. 

 

In very simple terms this means increasing your disposable income either by increasing your income in general or by reducing your expenses (or both).

 

What Should You Do If You Are Saving Enough For Retirement?

This may seem a surprising question, but it's a very important one.  If you think that you are saving enough for retirement, you may wish to have someone else double-check your figures for extra reassurance.  If you are still happy, congratulations. 

 

It's a good idea to continue to carry out regular spot-checks on your retirement plans. to ensure that they stay on track.

 

 

Please reload

Auto Enrolment - Reaping the benefits of workplace pension savings

January 11, 2016

1/5
Please reload

Recent Posts

October 12, 2015

Please reload

Archive
Please reload

Search By Tags